Measuring Residential Real Estate Liquidity |
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| Authors: | Brian D Kluger Norman G Miller |
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| Institution: | Department of Finance. College of Business Administration, University of Cincinnati, Cincinnati, Ohio 45221-0195. |
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| Abstract: | There are many factors, other than price alone, that may affect the liquidity of real estate. This study develops a liquidity measure based on the Cox proportional hazard technique, a statistical model widely used in the epidemiologic and social sciences. The odds ratio, along with an estimate of market value for a home, are used to construct a liquidity measure. This measure can extract from the data a rich statistical profile of the variables that affect liquidity. |
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